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Posts posted by scotty

  1. Lina,

    it looks good and pretty cheap. The things that would worry me is the fact that you have to pay the full balance within 21 days, I've not come across this before & for off-plan could be risky. I'm pretty new to the international property market, but the 50/50 split with the management agent seems high, I'm not sure what my expectations are, but not quite as hig as that. Their rental yields are also based on 48 week/year occupancy, which although a year round resort may not be realistic.

  2. Brickingit,

    just a word of warning, get a tax advisor. All the marketing speel you get on tax free this and no CGT that, is only viable to Moroccan tax - & you still have to pay the full tax here in the UK. It looks good on web sites but check out what a dual tax agreement actually means - you don't pay tax in both countries, so if you pay 0% income tax in Morocco, you still pay 23% or 40% here. BTW: I've also bought in LJDF. You could always keep your money offshore and hope the tax man doesn't find you, but it's a risk.

  3. Atlantis,

    I've used Legalex, but since I engaged them at 1%, I've heard they've got much more expensive.

    Report on the contract was nothing - as there was a PL English version as Soup D says which is generic - can send you a copy if you haven't got one.

    All in all, I think the laywers have got an easy job for their money (to date), although they will arrange for electricity / gas / bills etc to be settled on the completion of the contract.

  4. An interesting issue came up talking to a friend, and I posted the question on a tax website.

    "Can you claim the interest paid on your main property mortgage, against a property that you are renting?" ie you buy the 2nd property cash, with no mortgage

    The answer seems to be yes, you can u to the value of the property (or at least what you could get a mortgage for it). So I presume that if you have invested a deposit on an off-plan development, borrowing the money from your mortgage, you can claim back the interest paid as a business expense.

    has anyone come across this one before? <_<


  5. Andy,

    very good to hear your view on Saidia.

    Question for you. Property Logic are advertising a fully furnished apartment and villa, yet the contract only states that a "furniture package" will be added to the contract once they have been finalised and selected. Although not expecting any level of detail, I've been trying to get a high level inventory included in my contract (to state that a/c; beds; sofas; cookers tvs etc), but they're not moving. Have you come against this problem with PL before and have any of your clients managed to get them to change the contract to reflect this.

  6. This is truly momentus news. The new motorway will put transfer time at about 20 mins.

    Same fly time almost as La Manga on the opposit coast in Spain yet 4,4 x cheaper for a far better resort. LM has no real beach, no marina and vastly less facilities. Bring it on!

    just checked the Ryanair website as I read that they had secured landing spots at Oujda. They have introduced one route from Marsailles - not sure on the cost. But at least this is a start.

    DB - you asked about the domain names. Getting some of the prime names like golfmorocco.com will allow you to advertise (I was also thinking about such domains), although unless you plan to use them all I don't know why you'll need so many, you only have the one villa and programmed correctly, they will come up via a google search.

    Very interseting set of comments from you all

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